Home Buying in 33637>Question Details

brendacayton…, Home Buyer in Temple Terrace, FL

Which programs offer first time homebuyers assistance with downpayment and/or closing cost 100%. I am a single income household.

Asked by brendacaytonwhite, Temple Terrace, FL Tue Oct 8, 2013

Help the community by answering this question:


Hi Brenda,
There a couple of First Time Homebuyer Down Payment Assistance programs with Hillsborough County. You can use them for down payment and some for principal as well. But you need a credit score of 640, you also need to qualify for a mortgage, and the property needs to be livable because the program has an inspection under their own guidelines which the property needs to pass. There are certain approved lenders that can process the application for the borrower. With that said make sure that the lender you are going to work with is approved by the program. Ask your Realtor about these programs, if you are not working with a Realtor already, please feel free to contact me with any questions.
Good luck!
Franches Schnell, Realtor
813 784-2663
Future Home Realty, Inc.
1 vote Thank Flag Link Tue Oct 8, 2013
I have just recently decided it is time to buy versus rent. I am not working with a realtor at this time and started reading about the first time buyers class that is offered by HEA on North Florida. Thank you and I will contact you will my additional questions.
Flag Tue Oct 8, 2013
Many locations just to east of Temple Terrace is USDA eligible. The USDA program is great for first time buyers that have limited cash saved - 100% financing and allows for the home seller to pay closing costs. Reach out to us below if we can help.

USDA Mortgage Source
Florida USDA Loans, 7 days a week.
Ph: 904-302-6060
0 votes Thank Flag Link Wed Sep 16, 2015
It can be very difficult finding a home that covers a 100% financing unless you are a veteran or seeking a USDA approved property. If this applies to you, then you should consider a VA or USDA loan. Otherwise, the closest thing you can get is 96.5% financing from an FHA loan. That means only a 3.5% down payment will be required along with closing costs. There are also some community programs that can go along with this that can cover 3% of your down payment leaving you with 0.5% and closings left to pay. I would recommend speaking with a lender directly. I would be glad to speak with you to help and guide you to the loan that best fits you. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes Thank Flag Link Fri Feb 14, 2014
Hello Brian. Thank you for your assistance. I have been looking into the USDA program and plan to go that way.
Flag Mon Feb 17, 2014
Hi Brenda,
I recommend you to contact CDC (Corporation to Develop Communities) of Tampa for you initial consultation about programs available for you and for the FIRsT TIME HOMEBUYER class.
call them at 813 231 4362
Any further assistance please feel free to contact me anytime.
Thanks, Franches Schnell REALTOR (813) 784-2663
Visit nicehome4sale.com for your home search and buying tips.
Good Luck!
0 votes Thank Flag Link Mon Oct 14, 2013
USDA loans and NSP offer 100% financing for qualified buyers in qualified areas. Give me a call and I will give you the details.

Margaret Hassani
Broker, Lightning Realty
Innovation and Experience
(813) 766-1501
Fax (813) 443-0118
0 votes Thank Flag Link Thu Oct 10, 2013
Please give me a call if you are looking for a great lender. 810-335-3503. Or you can send me an email at wallen@proficiomortgage.com and I can send you an inquiry form to get your paperwork started and try to get you pre qualified.

William Allen
Mortgage Banker
0 votes Thank Flag Link Thu Oct 10, 2013
USDA and VA loans are the only programs with 100% financing. I have a few 3% down programs. To give you more concise information, I can be contacted at 813-308-9576. I am right here in Tampa.
0 votes Thank Flag Link Wed Oct 9, 2013
The State of Florida has a first time homebuyer program that may be able to give you up to $10k with a FHA, Conventional, VA or USDA mortgage. The guidelines are liberal and as a single person in Hillsborough County you can earn up to $68,160 as a single person household and get up to $5k. The amount goes up depending on the size of the household.

There is plenty of money available but you MUST have an APPROVED lender reserve the money for you.

Ask your Realtor for assistance.

If you're not yet working with a Realtor, get in touch with me and I can help you find the right home and also get you on the right track to buy with this Florida Bond money.

All the best,
Alma Rose Kee, PA
Future Home Realty
0 votes Thank Flag Link Tue Oct 8, 2013

There are several programs that can offer everything you've asked for. Many of these programs have specific requirements to qualify. I would be happy to meet with you and go over the options. Please review my profile on Trulia and if you would like, contact me at Thoyt@prutropical.com or 813-352-6219.

Tracy Hoyt
0 votes Thank Flag Link Tue Oct 8, 2013
The only loan programs available at 100% loan to value is VA and USDA. Depending on your credit score, we have a conventional loan that only requires 3% down. Why is this significant? Because, there is no upfront mortgage insurance premium like FHA and and the monthly mortgage insurance is much less. Plus, if you plan to stay in the home, your mortgage insurance will cancel at 80% loan to value if you have made all your payments on time.

Each different loan allows for seller contribution towards closing costs, this is up to your Realtor to negotiate this as part of your contract. Another way to look at this is a way to finance in the cost of the closing costs.

Homepath, which are Fannie Mae foreclosures, we require 3% down, there is no month MI and no appraisal is necessary.

I do not recommend USDA if you are in a hurry, this loan is funded by our government and program is completely shut down right now. When it is up, you are looking at 30 days to close with us, and 30-40 days for funding approval from USDA. All other loans we are currently funding during the shutdown as we have waived the requirement for tax transcripts.

Maureen Helm NMLS 118232
VanDyk Mortgage
0 votes Thank Flag Link Tue Oct 8, 2013
The usda program is one of the loans that can help. Also hillsbrough county down payment assistance for county homes and tampa lift program for homes within tampa. Calle for more info 8136254446
0 votes Thank Flag Link Tue Oct 8, 2013
Do you have a mortgage person and a realtor to help you? Let me know if not and I can help. Thanks! Michelle 813-842-3955
0 votes Thank Flag Link Tue Oct 8, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer